Zurich Financial Services divests its interest in the Life Insurance business in Thailand
1 March 2005, Zurich Financial Services Group (Zurich) has divested its interest in Zurich National Life Assurance Company Limited in Thailand to National Finance Public Company Limited. This step is in line with Zurich’s strategy to strengthen the Group’s Life Insurance business by focusing on markets where it has a significant presence. The Zurich National Life Assurance Company Limited’s name will change to reflect the change in ownership. Terms and conditions of the transaction have not been disclosed. Having received approval by the Bank of Thailand, the transaction was signed and closed on the same day.
Zurich National Life Assurance Company Limited recorded approximately USD 31 million (THB 1.2 billion) of gross written premiums for the year ended December 31, 2004 on a local statutory reporting basis (unaudited).
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Notes to editors:
Zurich Financial Services is an insurance-based financial services provider with a global network that focuses its activities on its key markets in North America and Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. Zurich has offices in more than 50 countries and employs about 57,000 people.
For further information please contact:
Zurich Financial Services
Media and Public Relations
8022 Zurich
Switzerland
Telephone + 41 (0) 1 625 21 00
Fax + 41 (0) 1 625 26 41
www.zurich.com
SWX Swiss Exchange/virt-x: ZURN
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